Property Price Market Update June 2010

Quick snap shot:

June's property market data shows a definite stalling of buying and selling a home. On average, the number of buyers looking to purchase is at best staying the same but in many areas demand is falling. Meanwhile the number of properties for sale is on the rise.

Sales volumes are up by over 50% versus last year - but still not as high as 2006 levels. Prices are 'in theory' up by 5-8% year on year, but most of this growth seems to be due to price rises in London and the increase in more expensive properties above £1 million.

If you have any queries or comments on our property reports, contact us on 0845 838 1763 or email enquiries@designsonproperty.co.uk. We can also help you value your own home if you need an independent view of how to value the property.

What's Happening in YOUR Area?As the UK's property market runs out of steam, we are finding that property prices and activity across the UK is starting to vary dramatically. Some areas are still down year on year, while others are up by over 20%.

Central London outperforms the UK with price growth of 14% year on year. Areas such as Kensington and Chelsea, up by over 21.2% year on year.

Land Registry shows London with a 15% increase in prices year on year and over 1.6% month on month. However, an even better performer this month is Brighton and Hove which are nearly 17% up YoY and 1.4% month on month. Leading performing areas in the London property market include Chelsea and Kensington which is +20.6% YoY, +3.6% month on month. With Richmond growing 15.7% YoY, up 1.4% month on month. Camden and Hammersmith and Fulham are also performing well.

Bath, Somerset, Bournemouth, Bracknell Forest, Bristol City, Surrey and Trafford are all performing well year on year. While the worst performing area this month is Liverpool - 8.5% down YoY and Hartlepool -5.5% YoY.

Property type wise, the biggest growth in volume is now the £1.5mn+ market with sales volume up by over 158%. This is mostly driven by London's growth, which in turn is benefiting from a big uplift in international buyers who spend in the high price brackets and areas.

For a really good understanding of what's happening in your area, checkout the number of boards are 'sold' versus 'for sale' below (or check locally yourself)

For Sale Sign Analysis information below to see if your area is covered.